Sphere Entertainment declared a quarterly turnover of $ 308.3 million, “slightly lower than the period of the previous year, due to half a dozen shows”, according to Elizabeth Dilts Marshall of Billboard. Sphere Entertainment declared an operating loss of $ 142.9 million, an improvement of $ 16.7 million compared to the same quarter a year ago. “Meanwhile, the adjusted operating profit of $ 32.9 million was down $ 18.6 million compared to the quarter of the previous year. The sphere brought in $ 169 million, while MSG networks generated $ 139.3 million, for the quarter ending on December 31. Dollars, while MSG networks have declared $ 35 million in operating loss.Billboard, 3/3).
The bankruptcy to come? Daniel Kaplan Annuling Annuling Note Sphere Entertainment warned that MSG networks “may request protection against bankruptcy if it is unable to conclude a loan extension agreement with its lenders”. The debt dates from 2019 when MSG networks borrowed $ 1.1 billion. On October 11, 2024, the amount in circulation, $ 829 million came due, but the MSG networks “did not have the money” and concluded an “abstention agreement with its lenders”, postponing the due date. The lenders have granted another extension of abstention, but unless a third extension is granted, the “debt is due on March 26”. “Survival bankers are not the only threat that MSG networks have identified in its deposit of the dry”. The new national television contracts of the NBA, which “exploit more games, are another”. If MSG networks enter Chapter 11, an “unpleasant inter-compositive fight may occur” (Horrible ad, 3/3).